Germany's import prices rose 10.4% year-on-year in September 2026, accelerating from 8.3% in August and 6.8% in July. The increase was the steepest since November 2022 and exceeded the 10.3% market forecast. Prices also rose 2.1% month-on-month, up from 1% in August and above the 1.8% forecast, marking the highest monthly reading since March. Energy import prices climbed 61.8% from a year earlier and 14.5% from August, with electricity, mineral oil products, crude oil, natural gas and hard coal all recording sharp annual increases. Excluding energy, import prices rose 5.5% annually. Intermediate goods increased 11.1%, led by a 26.8% rise in non-ferrous metals, while agricultural imports fell 0.9%. Export prices rose 5.3% year-on-year and 0.6% month-on-month, also reflecting higher energy costs, with energy exports up 58.3% annually.